Stock Market & Financial Investment News

U.S. energy regulator hits JPMorgan with 6 month power trading ban, FT saysThe U.S. Federal Energy Regulatory Commission has banned JPMorgan (JPM) from trading electricity at market rates for six months on charges the bank of submitted false information to a continuing investigation of alleged market manipulation, according to Financial Times. Reference Link

Basel Committee says new regulations unlikely, FT reportsIn an interview with the Financial Times, Basel Committee secretary-general William Coen stated most of the post-financial crisis bank regulation is in place, and the committee will now spend 2015 providing clarity on existing regulation. Coen stated that he is strongly inclined to review bank trading book rules by year's end, though the committee's review of market risk regulations may or may not be completed this year. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link

Judge dismisses lawsuit over $13B JPMorgan-Justice Dept settlement, Reuters saysA federal judge has dismissed a lawsuit that sought to block a $13B settlement reached between JPMorgan and the U.S. Justice Department over mortgage loans, reports Reuters. Judge Beryl Howell accepted a motion by the Justice Department to dismiss the lawsuit, which argued the non-profit group Better Markets lacked standing to sue. Howell said, "The plaintiff has failed to meet its burden to show it has suffered an injury in fact." Reference Link